Subject: Exchanges - The American Stock Exchange

The American Stock Exchange (AMEX) once listed over 700 companies and
was the world's second largest auction-marketplace. Like the NYSE (the
largest auction marketplace), the AMEX used an agency auction market
system which is designed to allow the public to meet the public as
much as possible. In other words, a specialist helps maintain
liquidity.

Regular listing requirements for the AMEX included pre-tax income
of $750,000 in the latest fiscal year or 2 of most recent 3 years,
a market value of public float of at least $3,000,000, a minimum
price of $3, and a minimum stockholder's equity of $4,000,000.

In 1998, a merger between the NASD and the AMEX resulted in the
Nasdaq-Amex Market Group. In 2008, NYSE Euronext purchased the AMEX,
then renamed it several times. As of 2012 the market is called "NYSE
MKT", and claims to be the leading equities capital market for
small-cap companies.